How to maximize your tax benefits for your home office? For over four decades, Molen & Associates, a trusted tax and accounting firm established in 1980, has been aiding small-business proprietors and entrepreneurs in optimizing their tax advantages through the...
Navigating the 2024 Tax Landscape: What You Need to Know Introduction: As we gear up for the upcoming tax season, it’s crucial to stay ahead of the curve and be aware of the changes that will shape the 2024 tax landscape. In this blog post, we’ll...
How to cruise a write off? First things first, let’s remember our general rules that before we can deduct a business expense it must be ORDINARY and NECESSARY, meaning “An ordinary expense means it’s typical in your business, both [in terms of] amount [as well as in]...
Tax matters can be a labyrinth of complexities, especially for small business owners juggling a multitude of responsibilities. The mere thought of facing the Internal Revenue Service (IRS) can send shivers down the spine. But fear not – there’s a potent guardian...
The Corporate Transparency Act (CTA), enacted as part of the Anti-Money Laundering Act of 2020, introduces significant changes in beneficial ownership reporting requirements for certain entities operating in the United States. These regulations, set to take effect on...